Triple top on EUR/GBP

Triple top on EUR/GBP

There is an interesting technical pattern on the EUR/GBP currency pair. Near the "mirror" resistance level of 0.87500, a classic figure of Triple top has been formed, which at the moment acts as continuation of the current trend. The nearest support is at 0.87300. We recommend you to pay attention to this situation.

If the price fixes below the support level of 0.87300, it is necessary to consider sales of EUR/GBP. The closest target for profit taking is the 0.87150-0.87000 mark. In the medium term, EUR/GBP may reach the level of 0.86500. Confirmations and entry points to the market should be looked for on lower timeframes. When tracking the position, we recommend using a trailing stop.

by JustForex, 2018.05.21

This article reflects a personal opinion and should not be interpreted as an investment advice, and/or offer, and/or a persistent request for carrying out financial transactions, and/or a guarantee, and/or a forecast of future events.

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